Sri Lanka's new president seek changes to IMF deal
The Peninsula
Colombo: Sri Lanka s new president on Thursday urged the IMF to consider alternative means to continue with a $2.9 billion bailout that aided his co...
Colombo: Sri Lanka's new president on Thursday urged the IMF to consider "alternative means" to continue with a $2.9 billion bailout that aided his country in the wake of a sovereign default but imposed painful austerity.
In his first face-to-face meeting with International Monetary Fund representatives in Colombo, self-avowed Marxist Anura Kumara Dissanayake said he wanted to reduce taxes on lower income groups.
He won his country's September 21 presidential election promising to reverse steep tax hikes, raise public servant salaries and renegotiate the controversial bailout secured by his predecessor, Ranil Wickremesinghe.
Dissanayake told the IMF that he wanted to continue with the four-year programme, which requires the government to reform loss-making state enterprises and improve governance.
Dissanayake reaffirmed "broad agreement" with the objectives of the IMF programme but "emphasised the importance of achieving these objectives through alternative means that relieves the burden off the people," his office said in a statement.
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